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Maharashtra govt sets target of ₹60,860cr for crop loans
The state government on Thursday set the annual credit lending target by banks of ₹1
The state government on Thursday set the annual credit lending target by banks of ₹1.19 lakh crore for the agriculture sector in the current financial year. Of this, ₹60,860 crore is set for the crop loans during the kharif and rabi seasons.
During the state-level bankers’ committee meeting, chief minister (CM) Uddhav Thackeray gave his nod to the annual credit plan worth ₹4.6 lakh crore, which includes funding to various sectors including agriculture, MSMEs (Micro, Small and Medium Enterprises), housing, education, among others.
CM directed the banks from the private, commercial and cooperative sectors to implement a single-window system for credit finance to the agricultural proposal. He said these proposals should be cleared on the lines of industrial proposals passed under the ‘Ease of Doing Business’ programme. CM said it was necessary to strengthen farmers and agriculture by enhancing the credit system.
“The government has implemented the ‘Vikel Te Pikel (cultivating crops that sell)’ drive under which we have been focusing on the agriculture sector’s comprehensive development. All areas are being tapped upon, right from crop planning, market research, development of infrastructure, development of agri-processing industry to crop enhancement. To make it successful and empower farmers, the banking sector should put in efforts with the government departments,” he said.
CM also has directed the banks to cooperate with farmers for easy and timely lending for the crops without any hassles.
The state government has already increased the limit of interest-free crop loans from ₹1 lakh to ₹3 lakh.
Deputy chief minister Ajit Pawar said that banks should make crop loans available at the earliest as the kharif season is about to begin.
“There are complaints that banks are not very enthusiastic to lend to farmers with smaller land holdings. Similarly, commercial banks are not very keen on lending for crop loans. This leads to the hardship of smaller farmers,” Pawar said.
Agriculture minister Dadaji Bhuse, too, slammed the commercial banks for not availing crop loans to the farmers. He said that cooperative banks have disbursed 33% of their target set for the crop loans, while commercial banks have released only 4%. The banks have also been directed to increase their branches at rural areas.
